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Cyprus Property News

Noble Energy Report “Significant” Gas Find in Cypriote Waters.

Noble Energy’s Chairman and CEO Charles D Davidson has announced that block 12 of the Aphrodite field located to the south-east of the island contains 5-8 trillion cubic feet of natural gas.

The Huston based company’s CEO elaborated, “This is the fifth consecutive natural gas field discovery for Noble Energy and our partners in the greater Levant basin, with total gross mean resources for the five discoveries currently estimated to be over 33 Tcf. This latest discovery in Cyprus further highlights the quality and significance of this world-class basin.”

The news was welcomed by the beleaguered Cypriote President who at last had some good news to report. “The discovery of natural gas offers us the prospect of great and lasting economic growth which will benefit both present and future generations,” president Christofias said. “Although it will be many years before the full force of the discovery is felt by the Cypriote economy the find is bound to have a dramatic effect in the long run on the relatively small population.”